Vedanta, the asset 'ragbag' of the mining world

published 6 December 2011

A less-than-favourable description of mining giant Vedanta in today's Financial Times may offer a useful explanation as to why it is one of the morning's biggest fallers.

The FT described the stock as "a ragbag of assets, funded by a lot of debt and not a lot of their own equity," in its explanation of why the firm has continued its "dogged pursuit" of oil firm Cairn India.

The stock has lost 50% on its share price over the past year, equivalent to a whopping 1,060p.